Because of a Sharp Increase in the Price of Gasoline,the

question 2

Multiple Choice

Because of a sharp increase in the price of gasoline,the demand for Sports Utility vehicles (SUVs) has decreased.So,the high price of gasoline leads to a

• A) leftward shift of the demand curve for SUVs and the supply curve of SUVs.
• B) leftward shift of the demand curve for SUVs and no shift in the supply curve of SUVs.
• C) leftward shift of the demand curve for SUVs and a rightward shift of the supply curve of SUVs.
• D) leftward shift of the supply curve of SUVs and no shift in the demand curve for SUVs.
• E) rightward shift of the supply curve of SUVs and no shift in the demand curve for SUVs.

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Definitions:

Competitive Advantage

The attributes or conditions that enable a company to outperform its competitors, such as superior quality, innovative technology, or cost efficiency.

Unique Capabilities

Special abilities or strengths that set an individual, team, or organization apart from others.

Higher Quality

Superior excellence or enhanced value of a product, service, or outcome compared to others.

Technically Superior

Possessing a higher level of technical expertise or advanced technological features compared to others.